Corrs Chambers Westgarth, Australia's leading independent
law firm, has acted for Frasers Property Ltd, lead member of the
successful Aspire consortium and the appointed developer of Ivanhoe
Estate, Australia's largest social and affordable housing
redevelopment project.

The NSW Government has announced the Aspire consortium, which
includes development partners Frasers Property Australia, Citta
Property Group and community housing partner, Mission Australia
Housing, as the successful tenderer for the landmark Ivanhoe Estate
development.

The Ivanhoe Estate, off Epping Road in Sydney's northern
suburbs, will be developed into an integrated community of around
3,000 homes, including at least 950 social housing units and 128
affordable rental units over the next 10-12 years. These social
housing units will be managed by Mission Australia Housing.

The Ivanhoe development is the first major project that will be
delivered under the NSW Government's Future Directions for
Social Housing in NSW strategy and Communities Plus redevelopment
program. The project will be delivered in stages, with work
expected to start in late 2017. The first stage will include the
replacement of the existing 259 social housing units and is
expected to be completed three years after development
approval.

Corrs acted for Frasers Property in its Expression of Interest
in the project and the negotiation of transaction documents
relating to the development of the social, affordable and private
housing aspects of the development. Corrs' multidisciplinary
team worked across a range of areas in the consortium's tender,
including property, planning and environment, construction and
finance.

The Corrs team was led by Senior Associate Natalie Bryant and
Partner Nathaniel Popelianski. Other Partners and Special Counsel
involved included Andrew Chew and David Warren (construction), Brad
Husband (banking and finance), Kirsty Davis and Louise Camenzuli
(environment and planning) and Heran Kim and Rhys Jewell (tax).

According to Partner Nathaniel Popelianski, "The Ivanhoe
Estate development is a prime example of the NSW Government
inviting innovation and working collaboratively with the private
sector and community housing associations to deliver great
community outcomes with new social housing stock. This is a model
that we expect will gain attention by other Governments around the
country."

To print this article, all you need is to be registered on Mondaq.com.

Click to Login as an existing user or Register so you can print this article.

Some comments from our readers…“The articles are extremely timely and highly applicable”“I often find critical information not available elsewhere”“As in-house counsel, Mondaq’s service is of great value”